On April 26, 2017 in St. Petersburg a business breakfast “Time for doing Business in Finland” took place, organized by the Russian law firm Capital Legal Services and the Finnish firm Magnusson with the assistance of Finpro Russia (Invest in Finland), Rantalainen Accounting Services and Helsinki Centre.

The first task to be completed by a Russian company that decided to start business in Finland, is gathering exhaustive information on the Finnish market, legislation, tax regulation, etc. An important factor in this connection is knowledge of the mentality and principles of business conduct in Finland. Partner of Capital Legal Services Irina Onikienko, who acted as moderator of the event, is sure that “homework well done” can allow Russian business to adapt easily to any market, including Finnish.

Capital Legal Services, having an office in Helsinki and an impressive portfolio of projects implemented for Finnish companies, shed light on the legal issues related to entering the Finnish market. Dmitry Churin, Principal Associate of the firm, devoted his report to legal forms of presence in Finland, opening bank accounts and specific related aspects, ways to manage a Finnish company, legal regulations in relation to controlled foreign entities, etc. The audience was especially interested in the procedure for opening bank accounts, since the complexity of this procedure is widely known.

Panu Ståhlberg, Associate at Attorneys-at-Law Magnusson, CEO of St. Petersburg foundation governing the House of Finland, pointed out the key legal aspects related to starting a business in Finland.

Sergiy Golub from the Uusimaa tax office raised in his report one of the most vital topics for companies that decided to enter foreign markets – the taxation principles in Finland.

Vladimir Chepurnoy from Helsinki Centre and Olga Makeeva from Finpro (Invest in Finland) gave a rather detailed overview of Finland’s economic position on the world stage, investment climate in the country, living standards, including such aspects as salaries, terms and conditions of leasing office premises.

The number of participants and questions asked by the audience confirm that the Russian market is indeed interested in developing business in Finland. The value of the event is determined by the fact that one discussion platform became a meeting point for experts, which provided exhaustive information about all aspects of running a business and living in Finland, supported by practical advice.